Dangote Refinery Announces Reduction in Petrol Prices
In a significant move to ease the financial burden on Nigerians, Dangote Petroleum Refinery has announced a reduction in the ex-depot (gantry) price of Premium Motor Spirit (PMS), commonly known as petrol. Effective from February 27, 2025, the price will decrease by ₦65.00, adjusting from N890 to N825 per litre.
Under the new pricing structure, consumers in Lagos will be able to purchase petrol at N860 per litre at MRS outlets.
This price adjustment aims to provide essential relief to Nigerians as they approach the Ramadan season and aligns with President Bola Ahmed Tinubu’s economic recovery policies.
According to Daily Trust, this latest announcement marks the second reduction in petrol prices this month, following an earlier decrease of ₦60.00. Additionally, in December 2024, during the festive season, the refinery lowered the price of PMS by ₦70.50, reflecting its commitment to easing the cost of living for Nigerians during this period.
With the implementation of this new pricing, the management of Dangote Refinery has outlined petrol prices at various retail outlets. For MRS Holdings stations in Lagos, fuel will be priced at N860 per litre, while other regions will see varying prices: N870 per litre in the South-West, N880 per litre in the North, and N890 per litre in both the South-South and South-East.
Furthermore, consumers can expect competitive pricing at AP (Ardova Petroleum) and Heyden stations, where petrol will be sold at N865 per litre in Lagos, N875 per litre in the South-West, N885 per litre in the North, and N895 per litre in the South-South and South-East.
The company has reiterated its commitment to ensuring a consistent supply of petroleum products, with adequate reserves to meet domestic demand and additional capacity for export, thereby enhancing the nation’s foreign exchange earnings.
Dangote Refinery has called on marketers to support this initiative, ensuring that the primary beneficiaries of these efforts are the Nigerian populace.
